Do not fall for this ruse.  If you have just signed up, we suggest you IMMEDIATELY demand the bank's COPY OF YOUR LOAN APPLICATION FORM (11 pages).  Send to us if you think there are misstatements on there after you signed and without your knowledge or consent.  The Lair Loan Mortgage Scandal has suffered a dent and why banks are getting desperate.  Yes a $100 cash looks inviting but trust me not the Bank, it will be padded in elsewhere.  Want to know where?  Email me!  This email address is being protected from spambots. You need JavaScript enabled to view it.  Where is ASIC?  Snoozing as usual?  Muddled Medcraft will just stand up for their bank mates and say its "marketing."

Just as well we are on the ball and the Australian Broker News.  Meanwhile I will continue cleaning up the NAB messes that clutter my desk:  $400,000 buffer propped up "30 year" loans that become $600,000 in four years and implode under the weight of high interest, extra fees and charges and finally implode in 5 years.  See The Reasons for signing our PETITION on change.org.  The Major Banks boast 85% market share of toxic loan approvals.

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Major bank offers $1,000 home loan sweetener

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by Adam Smith | 22 Sep 2014
 
A major bank will begin handing cash incentives to borrowers as home loan competition heats up.

NAB will begin offering a $1,000 cash incentive for new home loan customers, Fairfax has reported. The cash incentive will be offered on a pre-loaded EFTPOS card, and will be available for home loans of at least $300,000.

This offer is also extended to newNAB home loans settled through their broker network.

"The roll out of this offer to NABBroker is fantastic news for us and our brokers as it demonstrates the benefits of the Homeside to NABRebrand, which is enabling us to pass this great offer on to our brokers and their customers," a spokesperson for NAB toldAustralian Broker

NAB group executive for product and markets Antony Cahill said the offer differs from a rebate, and can help borrowers with expenses involved in buying a new home.

"An extra $1000 in the pocket this spring can help cover any unexpected costs that can crop up in the process of moving," Cahill told Fairfax.

Cahill told Fairfax the initiative would help grow the bank’s market share during the busy Spring selling season.